Ethereum (ETH) appears bearish and is poised for a massive price crash in the coming days due to the current market sentiment and bearish price action. The past few months have been unfavorable for the overall cryptocurrency market, which has experienced a significant downward trend.
Ethereum (ETH) Technical Analysis and Price Action
Amid this downside momentum, ETH has lost multiple key support levels, including an ascending trendline and several horizontal support zones. Currently, the ETH price is on the verge of breaching another critical support level at $1,475.
If this happens and the altcoin breaks below this level, we could see a notable price decline in the coming days.
The potential reason behind this price crash in ETH is the ongoing tariff war between the United States and other countries.
Ethereum Price Prediction
According to expert technical analysis, ETH is on the verge of breaking down a key support level at $1,475. Based on recent price action and historical momentum, if this occurs and ETH closes a daily candle below the $1,450 level, there is a strong possibility it could decline by 30% to reach the $1,000 level in the coming days.
Amid this ongoing price decline, ETH has fallen below the 200 Exponential Moving Average (EMA) on the daily time frame. This indicator suggests that the asset is in a strong bearish trend, with sellers dominating the market.
At press time, ETH is trading near $1,465 and has experienced a price decline of 6.50% over the past 24 hours. Meanwhile, during the same period, the asset’s trading volume dropped by 65%, indicating lower participation from traders and investors compared to previous days.
Whale Sell-off $15.70 Million Worth of ETH, What’s Next?
Looking at the current price momentum, on April 8, 2025, a crypto whale sold his entire holding of 10,000 ETH, worth $15.71 million, as reported by the blockchain-based transaction tracker Lookonchain.
A post on X (formerly Twitter) further revealed that this whale had purchased the ETH between October 4 and November 14, 2022, at an average price of $1,292. Despite the recent price decline, he managed to book a profit of $2.75 million, although he missed out on a potential $27.60 million gain had he sold at the peak.
This massive sell-off may create additional selling pressure and contribute to further downside momentum.
